“In what could be welcome news for the Federal Reserve, the New York Fed’s April survey of consumers released on Monday found expectations for inflation one year ahead rose to 2.6 percent, from 2.5 percent.”
Well, if the NY Fed has been to the grocery store lately, or tried to buy anything, they would honestly report the inflation rate in this nation is near 17 ½%. But, by lying to the American public they assume that, as lemmings falling into the sea, we will believe anything that has a government ring to it. The “Fed” is not a government agency. It is, with the government’s blessing, a privately held company and for a reason none of us can fathom, it is not subject to audit as other financial concerns are.Therefore anything they say is suspect. What the Federal Reserve does is control the flow of money, and that is what primarily drives the stock market. Since most of us are too poor to “play” the stock market, we don’t pay attention to what the Fed reports, but we should because as the stock market goes up (and hits the record highs it has lately) it directly affects the cost of everything we buy.
Only a fool who has been living on another planet would say that the inflation rate was only 2.5%. So while the Federal Reserve takes money out of one pocket and puts it into another to artificially keep the market high so the rich get richer, it adversely affects the cost of buying necessities for the rest of us.
If the government did one thing that would be good for Americans, it would demand an audit of the Federal Reserve. But, since the Fed has one of the largest and most effective lobbying cadres in the country, and since congress people love donations that will never happen.
And so we are fed the nonsense that the inflation rate is 2.5%. If that were true, why does a bunch of bananas cost twice what they cost just ten years ago?
johnbeckmanbooks 